A recent analysis reveals that now is an ideal time for investors to explore property purchases in Portugal, as the housing market shows promising growth. In Q2 2024, 33,350 dwellings were sold, marking a 4.9% increase from the previous quarter. With economic growth, rising disposable incomes, and improving consumer confidence, experts predict further price increases due to limited supply. The resort sector, particularly in the Algarve, offers attractive returns and lifestyle benefits, with prices rising by 9.8% in 2023. Investors can explore opportunities at the Moving to Portugal Show in London on October 17, 2024, featuring key resort representatives and estate agents.
A series of reports indicate that now is the perfect time for investors to consider purchasing property in Portugal. The housing market is gaining momentum, with leading Portuguese property analyst Confidencial Imobiliario reporting that 33,350 dwellings were sold in mainland Portugal during Q2 2024. This transactional activity represents a 4.9% increase over the previous quarter. The Royal Institute of Chartered Surveyors (RICS) also highlights the Portuguese market's readiness for an uptick, with Senior Economist Tarrant Parsons noting:
Experts believe strong economic growth forecasts, supported by rising disposable incomes in tandem with improving consumer and business confidence, should begin to feed into the housing market over the coming months. In addition to these broader economic indicators, Confidencial Imobiliario's 2024 Portuguese Housing Market Survey data suggests that house prices are gaining further momentum due to increasingly restricted supply.
Resort properties have long been favoured by investors for their combination of economic returns-both from price appreciation and rental yields-and lifestyle benefits. Properties in the Algarve, known for its stunning beaches and world-class golf courses, are particularly attractive, offering healthy returns to many investors. Confidencial Imobiliario's latest Portuguese Resorts Market Report indicates that resort house prices increased by 9.8% in 2023. The resort sector also typically provides security and maintenance services, along with access to communal facilities such as swimming pools and sports courts.
Property investors interested in learning more about the opportunities available in Portugal will have the chance to meet key resort representatives at the Moving to Portugal Show and Seminars in London on October 17, 2024. Major resorts, including Pestana (operating golf resorts across Portugal), Vilamoura (known for its award-winning marina and beaches), and Life Plan Resorts (a retirement resort focused on healthy aging), will be exhibiting at the event. Their presence will allow property investors to view a selection of homes currently available in the Algarve and other regions of Portugal.
For those looking for homes in different areas, from Portugal's vibrant cities to its peaceful countryside, a variety of estate agents will also be present at the Moving to Portugal Show. Exhibitors will include Fine & Country Algarve, Garvetur, Waratah Properties, and Cerro Novo. The free-to-attend Moving to Portugal Show will take place at the Pestana Chelsea Bridge Hotel on October 17, with tickets available online at https://MTP-London.eventbrite.co.uk. Organized by the Portuguese Chamber of Commerce in the UK, the Moving to Portugal Shows have already attracted over 9,000 Britons eager to learn about all aspects of life in Portugal, including property investment.
"There's strong appetite from investors for property in Portugal right now, particularly resort properties. Some simply want a high-quality home managed by the resort that could promote rental income while their capital grows. Others are seeking a property they can use themselves from time-to-time and rent out at other times, whenever their schedule suits. Portugal's wide range of resort properties mean the country has something to meet every investor's needs." Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK
In conclusion, the strong demand for properties in Portugal reflects a vibrant market, offering diverse investment options that cater to various lifestyles and financial goals. This trend is likely to continue.
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